StoneCo (BSP:STOC34) Cyclically Adjusted PB Ratio: (As of Jul. 21, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

BSP:STOC34 StoneCo Ltd BSP:STOC34
59 GF Score
Price R$56.80
GF Value R$104.20
Valuation Possible Value Trap
! 5 Warning Signs
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What is StoneCo Cyclically Adjusted PB Ratio?

Note: If the price history is too short, we do not calculate current Cyclically Adjusted PB Ratio for this stock. All the historical data is shown as the company's primary share's data instead.

Shiller PE for Stocks: The True Measure of Stock Valuation

StoneCo  (BSP:STOC34) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.

StoneCo Cyclically Adjusted PB Ratio Related Terms

StoneCo Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for StoneCo's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

StoneCo Cyclically Adjusted PB Ratio Chart

StoneCo Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 2.12

StoneCo Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 2.12 0.00

BSP:STOC34 vs EEFT, PAGS, ATEN: Cyclically Adjusted PB Ratio Comparison

For the Software - Infrastructure subindustry, StoneCo's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

StoneCo Cyclically Adjusted PB Ratio vs Software Industry

For the Software industry and Technology sector, StoneCo's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where StoneCo's Cyclically Adjusted PB Ratio falls into.


BSP:STOC34
59GF Score
StoneCo Ltd BSP:STOC34
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

StoneCo Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

StoneCo's Cyclically Adjusted Book per Share for the fiscal year that ended in Dec25 is calculated as:

For example, StoneCo's adjusted Book Value per Share data for the fiscal year that ended in Dec25 was:

Adj_Book=Book Value per Share/CPI of Dec25 (Change)*Current CPI (Dec25)
=44.174/324.0540*324.0540
=44.174

Current CPI (Dec25) = 324.0540.

StoneCo Annual Data

Book Value per Share CPI Adj_Book
201612 3.399 241.432 4.562
201712 3.003 246.524 3.947
201812 18.376 251.233 23.702
201912 21.533 256.974 27.154
202012 48.112 260.474 59.856
202112 43.817 278.802 50.929
202212 41.242 296.797 45.030
202312 47.331 306.746 50.002
202412 41.173 315.605 42.275
202512 44.174 324.054 44.174

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is StoneCo (BSP:STOC34) Overvalued in 2026?

Based on GuruFocus' analysis, StoneCo stock appears to be undervalued. The current stock price of R$56.80 is trading 45.5% below its estimated GF Value™ of R$104.20. GuruFocus considers StoneCo to be Possible Value Trap.

Key valuation signals for BSP:STOC34:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: R$104.20 vs. price of R$56.80 (45.5% below fair value)
  • GF Score™: 59/100 with 5 warning signs

No single metric tells the full story. See the BSP:STOC34 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

StoneCo Business Description

Address 18 Forum Lane, Camana Bay, Block 12D Parcel 33 and 95, P.O. Box 10240, Grand Cayman, CYM, KY1-1002
StoneCo Ltd is a provider of financial technology solutions. It serves MSMBs solutions, at fair prices, and provides the customer experience to help them manage their businesses and sell more. Its Stone Business Model combines end-to-end, cloud-based technology platforms; differentiated hyper-local and integrated distribution approaches; and white-glove, on-demand customer service. The brands of the company include: Stone: For small and medium-sized businesses, all management is integrated with the payment terminal, business bank account, and card, all within the same app. Ton: For micro-entrepreneurs and freelancers, modern card machines, sales via Pix or TapTon, and a Super Account. Stone pagar.me for those who sell online. Digital payment technology for all types of businesses.
59GF Score

Get the complete analysis for BSP:STOC34

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

R$56.80
Price
R$104.20
GF Value